If approved, sworn personnel with 20 years of service would be entitled to a pension equivalent to 40 percent — instead of 50 percent — of their average salary.
An independent think tank says California’s pension fund is awash in red ink, and the burden for every worker in the state could rise to $10,000 a year by 2014.
Mayor Antonio Villaraigosa and Controller Wendy Greuel say new changes to the city’s pension plan for police and firefighters could bring in up to $200 million in savings — but there’s a catch.
A study says California spent the most money in the nation to educate college students who dropped out after their first year.
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